erg sale, page-16

newB,

Saville could have called his loan in years ago, each year he has allowed ERG to continue trading as he has foregone the interest and repayment. Now the projects are reaching fruition, and the company becomes cash flow positive (finally) and he has basically called in the loans. The option that is assumed we will all accept, I am sure, he has placed on the table, not much negotiation and I feel no regard for long term shareholders, has been accepted by the board as the ONLY way with little or no regard for the other shareholders.

What other options were considered?? As PeterBills points out what other avenues were explored if this is accepetd as is, we will never know and will be giving away all that we have held out for over the years.